BNY Mellon Settles OT Class Action

Law360, New York (January 31, 2012, 4:42 PM EST) -- A Pennsylvania federal judge agreed Tuesday to file under seal a settlement between Bank of New York Mellon Corp. and a class of employees who sued the company over alleged unpaid overtime.

U.S. District Judge Nora Barry Fischer granted the parties' motion to enter the confidential settlement agreement resolving the dispute, which had accused the bank of violating the Pennsylvania Minimum Wage Act by failing to pay the required premium rate for overtime work to file transfer consultants who worked more than 40 hours in a...